Northern Trust Corp Buys 231,713 Shares of Relay Therapeutics, Inc. (NASDAQ:RLAY)

Northern Trust Corp increased its position in Relay Therapeutics, Inc. (NASDAQ:RLAY - Free Report) by 24.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 1,169,979 shares of the company's stock after purchasing an additional 231,713 shares during the period. Northern Trust Corp owned about 0.70% of Relay Therapeutics worth $4,820,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in RLAY. The Manufacturers Life Insurance Company lifted its stake in shares of Relay Therapeutics by 1.5% in the 4th quarter. The Manufacturers Life Insurance Company now owns 218,872 shares of the company's stock valued at $902,000 after purchasing an additional 3,325 shares during the last quarter. Tudor Investment Corp ET AL grew its holdings in shares of Relay Therapeutics by 7.0% in the 4th quarter. Tudor Investment Corp ET AL now owns 86,357 shares of the company's stock worth $356,000 after purchasing an additional 5,674 shares during the last quarter. Boothbay Fund Management LLC grew its holdings in shares of Relay Therapeutics by 2.7% in the 4th quarter. Boothbay Fund Management LLC now owns 214,399 shares of the company's stock worth $883,000 after purchasing an additional 5,691 shares during the last quarter. Susquehanna Fundamental Investments LLC bought a new stake in Relay Therapeutics during the 4th quarter worth about $1,427,000. Finally, Virtus ETF Advisers LLC grew its holdings in Relay Therapeutics by 26.2% during the 4th quarter. Virtus ETF Advisers LLC now owns 14,873 shares of the company's stock worth $61,000 after acquiring an additional 3,092 shares during the last quarter. Institutional investors and hedge funds own 96.98% of the company's stock.

Relay Therapeutics Trading Down 2.1%

Shares of NASDAQ:RLAY traded down $0.06 during mid-day trading on Tuesday, reaching $2.85. The stock had a trading volume of 1,572,711 shares, compared to its average volume of 2,076,023. The firm has a market cap of $488.62 million, a PE ratio of -1.09 and a beta of 1.65. The firm has a 50 day simple moving average of $2.79 and a two-hundred day simple moving average of $3.79. Relay Therapeutics, Inc. has a twelve month low of $1.78 and a twelve month high of $10.72.

Relay Therapeutics (NASDAQ:RLAY - Get Free Report) last announced its earnings results on Monday, May 5th. The company reported ($0.46) EPS for the quarter, topping the consensus estimate of ($0.50) by $0.04. The company had revenue of $7.68 million for the quarter, compared to analyst estimates of $0.01 million. The business's quarterly revenue was down 23.0% on a year-over-year basis. During the same quarter last year, the business posted ($0.62) earnings per share. On average, equities analysts anticipate that Relay Therapeutics, Inc. will post -2.55 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Thomas Catinazzo sold 12,943 shares of Relay Therapeutics stock in a transaction that occurred on Wednesday, April 30th. The shares were sold at an average price of $3.00, for a total value of $38,829.00. Following the sale, the chief financial officer now directly owns 355,376 shares in the company, valued at $1,066,128. This trade represents a 3.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sanjiv Patel sold 61,422 shares of Relay Therapeutics stock in a transaction that occurred on Wednesday, April 23rd. The shares were sold at an average price of $2.97, for a total transaction of $182,423.34. Following the completion of the sale, the chief executive officer now owns 821,667 shares in the company, valued at $2,440,350.99. This trade represents a 6.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 94,320 shares of company stock worth $280,981. Company insiders own 4.87% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on RLAY. Wells Fargo & Company began coverage on shares of Relay Therapeutics in a report on Thursday, April 17th. They set an "equal weight" rating and a $4.00 price objective on the stock. Stifel Nicolaus decreased their price objective on shares of Relay Therapeutics from $27.00 to $23.00 and set a "buy" rating on the stock in a report on Thursday, February 27th. HC Wainwright reissued a "buy" rating and set a $16.00 price objective on shares of Relay Therapeutics in a report on Friday, March 7th. Guggenheim decreased their price objective on shares of Relay Therapeutics from $30.00 to $10.00 and set a "buy" rating on the stock in a report on Wednesday, May 7th. Finally, The Goldman Sachs Group reduced their target price on shares of Relay Therapeutics from $20.00 to $18.00 and set a "buy" rating on the stock in a research note on Thursday, February 27th. Two research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $17.67.

About Relay Therapeutics

Relay Therapeutics, Inc operates as a clinical-stage precision medicines company. It engages in transforming the drug discovery process with an initial focus on enhancing small molecule therapeutic discovery in targeted oncology and genetic disease indications. The company's lead product candidates include RLY-4008, an oral small molecule inhibitor of fibroblast growth factor receptor 2 (FGFR2), which is in a first-in-human clinical trial for patients with advanced or metastatic FGFR2-altered solid tumors; RLY-2608, a lead mutant-PI3Ka inhibitor program that targets phosphoinostide 3 kinase alpha; and Migoprotafib (GDC-1971), an oral, small molecule, potent and selective inhibitor of the protein tyrosine phosphatase SHP2 that binds and stabilizes Src homology region 2 domain-containing phosphatase-2 (SHP2) as a monotherapy in patients with advanced or metastatic solid tumors.